Nov 20. CBR’s Wednesday collateral-free auctions held provided the market with long-awaited liquidity, although strong demand for foreign currency, a slump on the Russian equity market and expectations about the ruble’s potential depreciation continue to put pressure on the national currency. On Monday and Tuesday the Central Bank of Russia floated banks collateral-free loans for a total of RUB 325 bn, but these funds reached banks’ accounts only Wednesday. Russian market participants said CBR cash definitely helped to unwind liquidity tension, which is underscored by lower rates on the inter-bank lending market, although some of these funds were spent on currency purchases, putting downward pressure on the ruble.